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Element List	Explanation
Introduction	The Mediterranean & Gulf Cooperative Insurance & Reinsurance Company (MEDGULF) announces that the Board of Directors, in its meeting dated 22/07/1447 (corresponding to 11/01/2026), approved the resignation of Mr. Faisal bin Abdullah Al-Jasir from his membership of the Audit Committee, and the appointment of Mr. Ziyad bin Bassam Al-Bassam as a member of the Audit Committee, effective from the date of approval by the Insurance Authority. The Board of Directors extends its sincere gratitude and appreciation to Mr. Faisal bin Abdullah Al-Jasir for his valuable efforts and contributions during his tenure on the Audit Committee, and wishes him continued success and prosperity in his roles on the Company’s Board of Directors and the Risk Committee.

Element List

Explanation

Introduction

The Mediterranean & Gulf Cooperative Insurance & Reinsurance Company (MEDGULF) announces that the Board of Directors, in its meeting dated 22/07/1447 (corresponding to 11/01/2026), approved the resignation of Mr. Faisal bin Abdullah Al-Jasir from his membership of the Audit Committee, and the appointment of Mr. Ziyad bin Bassam Al-Bassam as a member of the Audit Committee, effective from the date of approval by the Insurance Authority.

The Board of Directors extends its sincere gratitude and appreciation to Mr. Faisal bin Abdullah Al-Jasir for his valuable efforts and contributions during his tenure on the Audit Committee, and wishes him continued success and prosperity in his roles on the Company’s Board of Directors and the Risk Committee.

Element List	Explanation
Name of Resigning Member	Faisal bin Abdullah Al-Jasir
Resignation Submission Date	2026-01-11 Corresponding to 1447-07-22
Resignation Effective Date	2026-02-04 Corresponding to 1447-08-16
Reasons for Resignation	In response to his desire not to continue as a member of the committee after the completion of the relevant stage of the merger process, and in line with the Board of Directors’ desire to provide an opportunity to include a member from the merged company to represent it on the committee, and to enable him to contribute his expertise to its work during the next stage.
Resigning Member Start Date	2025-05-08 Corresponding to 1446-11-10

Element List	Explanation
Appointed Member Name	Ziyad bin Bassam Al-Bassam
Membership Start Date	2026-02-04 Corresponding to 1447-08-16
Brief Resume of the Appointed Member	Holds a Bachelor's degree in Business Administration from King Abdulaziz University in Jeddah, with over 36 years of experience in real estate development, insurance, and trade. He has held several leadership positions, most notably as CEO of Al Bassam Group and Board Member of Buruj Cooperative Insurance Company, and is recognized as a distinguished professional in business management and real estate investment.
The date of the approval by other official authorities	16/08/1447 corresponding to 04/02/2026

Element List	Explanation
Date of Board Meeting in which Appointed New Member(s) were Appointed	2026-01-11 Corresponding to 1447-07-22
Additional Information	Not Applicable

The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (MEDGULF) Announces Resignation and Appointment of Audit Committee Member